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Dec 26, 2012 7:00pm PST
publicity. the deal still needs to be approved by california federal judge. i am joined by the adult professor of economics at nyu, could have you with us. it is potentially one of the biggest settlement in history in the u.s.. if a sign of how serious this case is. >> is certainly is a large amount. nobody is for defective vehicles, but i think it is a bit punitive and excessive. the larger issue is that we want to be able to encourage cross- border trade, foreign and direct investments, and private enterprise. when companies find out they have to pay excess of amounts for small defects, this can discourage that kind of economic activity. >> some might argue that this was a really unusual sort of case and situation. >> i agree, and like i said, public safety is certainly extremely important. and certainly, compensation to folks that had defective vehicles that put their lives in danger, that is justified. but i wonder how much more had gone and other areas that might be overly punitive. this is not the first case where a company has come out with defective products. plenty of others
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